Preheat oven to 325°F and set aside two greased 8-inch square baking pans or 9-inch round baking pans.

In a large bowl, whisk together all-purpose flour, sugar, cocoa powder, baking soda, baking powder, and salt. Set aside.

In a separate bowl, whisk together coffee, oil, milk, vanilla, and egg.

Add liquid ingredients to flour mixture, and whisk until thoroughly combined. Transfer batter to prepared baking pans and bake until an inserted toothpick near the center comes out clean, about 30 to 40 minutes. Cool in the pan for 15 minutes, then transfer to a wire rack to cool completely.

In a large bowl, whisk butter, cream cheese, and cocoa powder over low speed until combined. Increase speed to medium high and whisk until smooth.

In a separate small bowl, whisk together cream and malted milk powder. Slowly add it to the butter mixture, and beat until thoroughly combined. Scrape down the sides of the bowl as needed.

Gradually add powdered sugar, beating on low speed, until incorporated. Increase speed to high and whip until light and fluffy, about 3 minutes.

Frost the cooled cake as desired.